News & analysis
News & analysis

Accenture stock dips after earnings

22 March 2024 By Klavs Valters

Share

Accenture plc (NYSE: ACN) announced Q2 of fiscal 2024 earnings results before the US market opened on Thursday.

Irish-American professional services company reported revenue that fell slightly short of analyst estimate of $15.847 billion at $15.8 billion.

Earnings per share reached $2.77 for the quarter vs. $2.661 per share expected.

Company overview

  • Founded: 1989
  • Headquarters: Dublin, Ireland
  • Number of employees: 733,000 (2023)
  • Industry: Professional services, information technology consulting
  • Key people: Julie Sweet (Chair and CEO)

CEO commentary

“In an uncertain macro environment, we remain the trusted partner to our clients for reinvention with a record 39 clients with quarterly bookings of over $100 million. We also extended our early lead in generative AI with $1.1 billion in new bookings in the first half of the year. And we are investing to serve the needs of our clients and expand our growth opportunities with $2.9 billion of capital deployed in the first half in strategic acquisitions. Thank you to our more than 740,000 people around the world for your dedication to delivering value for our clients,” Julie Sweet, CEO of Accenture said in a note to shareholders.

Stock reaction

Share price fell by around 9% on Thursday to $346.12 a share – the lowest level since January.

Stock performance

  • 5 day: +0.59%
  • 1 month: +2.46%
  • 3 months: +9.09%
  • Year-to-date: +8.42%
  • 1 year: +40.04%

Accenture stock price targets

  • Guggenheim: $425
  • Redburn Atlantic: $445
  • Morgan Stanley: $417
  • Stifel Nicolaus: $395
  • Piper Sandler: $394
  • Citigroup: $430
  • Robert W. Baird: $375
  • Bank of America: $419
  • Royal Bank of Canada: $374
  • Mizuho: $426
  • UBS Group: $400
  • BNP Paribas: $440
  • BMO Capital Markets: $385
  • Wedbush: $360
  • TD Cowen: $360
  • Barclays: $390
  • JP Morgan Chase & Co.: $341

Accenture plc is the 44th largest company in the world with a market cap of $238.53 billion, according to CompaniesMarketCap.

You can trade Accenture plc (NYSE: CAN) and many other stocks from the NYSE, NASDAQ, HKEX and ASX with GO Markets as a Share CFD on the MetaTrader 5 platform. To find out more, go to “Trading” then select “Share CFDs”.

GO Markets offers pre-market and after-market trading on popular US Share CFDs.

Why trade during extended hours?

  • Volatility never sleeps. Trade over earnings releases as they happen outside of main trading hours
  • Reduce your risk and hedge your existing positions ahead of a new trading day
  • Extended trading hours on popular US stocks means extended opportunities

Sources: Accenture plc, TradingView, MarketWatch, MarketBeat, CompaniesMarketCap

Ready to start trading?

The information provided is of general nature only and does not take into account your personal objectives, financial situations or needs. Before acting on any information provided, you should consider whether the information is suitable for you and your personal circumstances and if necessary, seek appropriate professional advice. All opinions, conclusions, forecasts or recommendations are reasonably held at the time of compilation but are subject to change without notice. Past performance is not an indication of future performance. Go Markets Pty Ltd, ABN 85 081 864 039, AFSL 254963 is a CFD issuer, and trading carries significant risks and is not suitable for everyone. You do not own or have any interest in the rights to the underlying assets. You should consider the appropriateness by reviewing our TMD, FSG, PDS and other CFD legal documents to ensure you understand the risks before you invest in CFDs. These documents are available here.

#Indice #Indices #IndicesTrading #IndexTrading #Shares #Stockmarket #Stocks